McCain Urges Treasury to Act Without Legislation on Bailout

Speaking on morning television, the Arizonan urges the Treasury Department to address the economic crisis on its own by buying $1 trillion in mortgages and tapping its exchange stabilization fund. Also backs raising the FDIC insurance cap to $250,000.

On CNN: “I will do whatever is necessary… We haven’t convinced people that this is a rescue effort not just for Wall Street but for Main Street America.”

On MSNBC: “I think Americans have yet to fully understand this is not in the interests of Wall Street or Washington insiders.”

On Fox: “I’ll put my presidential campaign on the back burner if necessary.”

Also on CNN, declines to comment specifically on Gov. Palin’s discussion of Russia’s proximity to Alaska: “I’m not going to parse every answer to every question.”

On Fox, says neither he nor Gov. Palin will complain about the media’s treatment of her. “She’s tough.”